Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Phemex+1.343%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 1.343% dearer against Phemex than usual: you sell high and buy low: +$134 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.520	0	get 0.0000% / 4h	2h 28m	$1.5M	$264K	100x
Short	Injective XAG/USDC PERP	66.400	0.0033	get 0.0004% / 1h	28m 40s	$11K	$94K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee InjectivebpOrdersPrice spread, now +1.343%Rate

Funding earned: $7
Price spread: +1.343% → 0.000%: $134.31
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $129.29
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 4 min ago	4.57 bp	12.1 bp −$12	22.0 bp −$220	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAG on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	−0.0034%	1h	65.250	−0.412%	$5.6M	$9.4M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.334	−0.284%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.540	+0.031%	$3K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.600	+0.122%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.520	long leg	$1.5M	$264K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.522	+0.003%	$120K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.368	−0.231%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.377	−0.218%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.320	−0.305%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERPshort	+0.0033%	1h	66.400	+1.343%	$11K	$94K	52x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAG_USDT	+0.0036%	4h	65.410	−0.168%	$144.0M	$169.0M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.675	+0.237%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.710	+0.290%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.058	+0.821%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.603	+0.127%	$3.9M	$706K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.456	−0.098%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.680	+0.244%	$156K	$2.8M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.510	−0.015%	$66K	$375K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.344	−0.269%	$165.5M	$78.2M	25x	as long as short
Paradex XAG-USD-PERP	+0.0059%	8h	65.342	−0.271%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	65.579	+0.090%	$533K	$28.0M	8.1x	as long as short
Bybit XAGUSDT	+0.0081%	4h	65.400	−0.183%	$28.3M	$39.0M	150x	as long as short
Aster XAGUSDT	+0.0095%	4h	65.382	−0.211%	$2.7M	$937K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.325	−0.297%	$465K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	−0.259%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.600	+0.122%	$112K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.377	−0.218%	$5.3M	$11.1M	25x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.536	+0.024%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0137%	4h	65.665	+0.221%	$5.6M	$9.5M	—	as long as short
Binance XAGUSDT	+0.0143%	4h	65.387	−0.203%	$190.0M	$725.0M	100x	as long as short
Hotstuff SILVER-PERP	+0.0144%	1h	65.686	+0.253%	$35K	$21K	20x	as long as short
MEXC SILVER_USDT	+0.0148%	4h	65.370	−0.229%	$110.7M	$157.3M	1000x	as long as short
Nado XAG-PERP	+0.0154%	1h	65.615	+0.145%	$1.3M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0157%	4h	65.780	+0.397%	$669K	$313K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.430	−0.137%	$1.7M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0202%	4h	65.740	+0.335%	$388K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0208%	4h	65.360	−0.244%	$24.1M	$47.7M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	65.360	−0.244%	$27.4M	$69.0M	50x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	65.749	+0.350%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0228%	1h	65.597	+0.118%	$43K	$76K	10x	as long as short
BloFin XAG-USDT	+0.0292%	4h	65.480	−0.061%	$2.6M	$611K	100x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.662	+0.216%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0360%	1h	65.595	+0.114%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0470%	1h	65.548	+0.043%	$916K	$750K	25x	as long as short